NEW DELHI, Feb. 22, 2016 /PRNewswire/ - SkyPower, the largest and one of the most successful developers and owners of utility-scale solar energy projects in the world, is proud to announce the signing of four Power Purchase Agreements (PPA) with the Indian state of Telangana to build and operate a total of 200 megawatts (MW) AC of solar energy projects.
The agreements with Telangana mark the continuation of SkyPower's growth strategy in India, one of the fastest growing solar markets in the world. Over the past several months, SkyPower has secured 400 MW AC of solar PV projects in the states of Madhya Pradesh and Telangana and a strong foundation for SkyPower to grow its presence across India.
"India is a world leader in deploying solar, not only with its significant targets but through its very actions," said Kerry Adler, SkyPower's President and Chief Executive Officer. "SkyPower is committed to making a powerful contribution to India's goal of generating 100 GW of solar power by 2022, while the people of Telangana will benefit from clean, reliable and affordable energy as a result of the vision and leadership of this great state."
The vast global experience of the SkyPower team combined with the company's proprietary development platform enable SkyPower to provide solar power in India at truly market competitive rates, while ensuring the highest quality construction and world-class execution using our global purchasing power and highly advanced systems and processes that have been developed by the SkyPower team over the past 13 years.
"SkyPower is excited to add these projects for Telangana to our growing list of utility-scale solar projects in India and around the globe. Construction for our solar energy projects in the Indian state of Madhya Pradesh is planned to commence in 2016," said Aviv Garten, SkyPower's Senior Vice President of Development.
SkyPower's continued commitment to develop, finance and build gigawatts of solar photovoltaic projects in India represents a significant amount of the Government of India's 100 GW solar target for 2022 and SkyPower is proud to be a part of this exemplary program of the state and federal governments of India.
SkyPower is the largest and one of the most successful developers and owners of utility-scale solar energy projects in the world. With roots dating back more than a dozen years, SkyPower's global team possesses a vast track record of over 900 years of combined experience in power and large infrastructure projects.
The experienced and accomplished SkyPower team has built, assembled and acquired an extensive pipeline of over 25 GW worldwide – 9 GW of which were recently announced in bilateral agreements, and other contract awards, to be built in the Middle East, Africa and Southeast Asia over the next five years.
SkyPower has signed over 30 utility-scale solar Power Purchase Agreements (PPA) and Contracts, which in aggregate represent well in excess of US $80 billion worth of long-term renewable energy sales to leading utilities and governments around the world.
SkyPower is majority owned by CIM Group, a U.S.-based real estate and infrastructure investment firm founded in 1994 that has systematically and successfully invested in dynamic and densely populated communities throughout North America.